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"fake it until you make it" ?


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"fake it until you make it" ?

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  #1 (permalink)
Stamford,CT, USA
 
 
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Is the saying "fake it until you make it" useful for trading?

If I am fearing loss, can I fake it I am not fearing?

Any comments are welcomed.

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  #3 (permalink)
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goukotegawa View Post
Is the saying "fake it until you make it" useful for trading?

If I am fearing loss, can I fake it I am not fearing?

Any comments are welcomed.

you can but its not sustainable over the long run. You need to learn to accept legitimate losses as part of the game. For instance, a legit loss is one that results from a failed but solid set up. An illegitimate loss occurs when you simply trade for tradings sake...jumping in and out for no real reason.....these are account killers where as a legit loss is simply part of doing business.

Learning to accept losses even while making money replaces the fear of losing with the knowledge that one trade means nothing in the overall longer term trend of a solid money making method.....

If you don't have a method that creates clarity, develops confidence and expands your capability, you will always operate from fear.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #4 (permalink)
Legendary Market Wizard
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PandaWarrior View Post
you can but its not sustainable over the long run. You need to learn to accept legitimate losses as part of the game.

Very well said!
The only hard margin is when the trading account shows near zero.

Trade on Sim to get some confidence in the trading plan and
accept every loss as investment into the future.
In every other business there are unforeseen minuses that
are showing up. In real life one counts a startup company
up to five years before the initial investment is balanced.
If the company survives five years of course.

As long as you treat trading as a real busines - you need time
to see the desired results coming - just don't give up.

GFIs1

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  #5 (permalink)
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goukotegawa View Post
Is the saying "fake it until you make it" useful for trading?

Here is a TED talk about getting your body to lead the way to correct thinking.. Literally "faking it until your mind can make it".

Thought provoking to say the least. Great article from @rubyslippage about this very subject.



Amy Cuddy: Your body language shapes who you are - YouTube

Wolf

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  #6 (permalink)
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I do not think you can fake it till you make it. I understand the thought behind the saying, but your account and whether it goes up, or goes down, that alone will show if you understand enough. You can't fake a trade setup, if you do not know what a trade setup is. Once you know what your setup is, and where you stop is, and where the target is, then their is no need to fear. Nervous, yes, but not so much fear that you can't act.

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  #7 (permalink)
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Fear of loss is hardwired into your lizard brain. This is a basic behavioral finance insight.

People are hardwired to sell their winners and keep their losers.

Is it an advantage to know that about yourself?

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October 27, 2013


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